Bank of America posts profit, surprises investors

CHARLOTTE, N.C. (AP) -- Bank of America Corp. managed to avoid a loss in the first quarter, surpassing analysts' expectations and providing further evidence the banking sector might be improving....

By IEVA M. AUGSTUMS

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Gee, is it possible that the responsible home owners in those toxic sub-prime loan packages far outnumber the few who renege on their mortgages? That might explain why several banks whose outlook was questionable because of their sub-prime exposure are posting profits.

Just wondering.

 

From what I understand it's an accounting thing. Since they dropped forcing banks to use mark to market accounting, it makes the balance sheet look better.

It'll be interesting to see what happens if they release the results of the bank stress tests that they have been doing.

 

You mean? The economy may not be as bad as all the gloom 'n' doomers have been saying?

 

That or things at the banks aren't any better than they were a month ago, and it's just a change in accounting that makes it seem this way.

I think the latter. I think there's a reason they aren't releasing the bank stress tests, for fear of another plunge in the stock market and lending will freeze back up.

 

I say the banks were screwing around with our money, and when they seen that America fired the head of GM, they decided to play nice, now all of a sudden several of them are saying "OH LOOK, LOOKS LIKE WERE GONNA HAVE A PROFIT THIS YEAR".....Well... imagine that !!

I think all they needed was a little "motivation" to start turning a profit.
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If they were just playing around, they caused a lot of needless heartache for a lot of people. But I really doubt if they were just playing around. Its more likely that the problems were the result of "unintended consequences" of faulty government regulations.